Rakesh Kumar was shot dead and robbed of money by assailants riding a motorcycle at Kanti Nagar colony in Krishna Nagar on July 2.
Gyanendra and Fahim were arrested from a restaurant in Shakarpur. During interrogation, the duo admitted to their involvement in the robbery and murder of Rakesh, DCP(east) Rishi Pal said.
They also named two of their accomplices -- Nawabuddin and Imran who were later arrested by the police, he said.
Police recovered Rs 2.68 lakh of the looted amount and a pistol from the accused, he said.